\n
![\"\"](\"http:\/\/stateofthenation.co\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-14-at-11.14.48-AM-1024x648.png\")
<\/p>\n
\n<\/p>\n
AOL.com<\/p>\n
As part of a $2 trillion coronavirus relief package, many Americans will get government checks up to $1,200 \u2014 plus $500 per child \u2014 to help them ride out a job loss, reduced work hours, and other money challenges as the country tries to stem the pandemic.<\/p>\n
Here\u2019s everything you need to know about the stimulus check.<\/p>\n
As part of a $2 trillion coronavirus relief package, many Americans will get government checks up to $1,200 \u2014 plus $500 per child \u2014 to help them ride out a job loss, reduced work hours, and other money challenges as the country tries to stem the pandemic.<\/p>\n
Here\u2019s everything you need to know about the stimulus check.<\/p>\n
\u201cOur updated estimate is that 93.6 percent of [tax] filers will have a rebate,\u201d said Garrett Watson, senior policy analyst at The Tax Foundation. \u201cAnd this works out to approximately 140 million households.\u201d<\/p>\n
Your eligibility is based on your most recent tax return and your adjusted gross income. If you already filed your 2019 taxes, your eligibility will be based on that. If not, the Internal Revenue Service will use your 2018 taxes to determine if you qualify.<\/p>\n
The benefit is available not only to those who have filed taxes, but also to those who receive Social Security benefits as long as they\u2019ve received their SSA-1099 or RB-1099 forms.<\/p>\n
Read more:\u00a0<\/strong><\/em>Tax deadline postponed: Why you should still file as soon as you can<\/strong><\/em><\/a><\/p>\n Single adults with income up to $75,000 will get a $1,200 payment. Married couples with income up to $150,000 will get $2,400. Single parents who file as head of household with income up to $112,500 will get the full $1,200 check.<\/p>\n Additionally, Americans who qualify for the stimulus payment and have children will get an additional $500 per child under 17.<\/p>\n Reduced checks will be available for single adults who earn between $75,001 and $99,000 and married couples who earn between $150,001 and $198,000. The check will be reduced by $5 for every $100 over $75,000 for single adults and $150,000 for married couples.<\/p>\n Single adults who make more than $99,000 and married couples who earn more than $198,000 won\u2019t receive stimulus checks.<\/p>\n Those without a Social Security number and\u00a0nonresident aliens<\/a>\u00a0\u2014 those who aren\u2019t a U.S. citizen or U.S. national and don\u2019t have a green card or have not passed the substantial presence test \u2014 aren\u2019t eligible.<\/p>\n You\u2019re also ineligible if your parents claim you as a dependent on their taxes.<\/p>\n The IRS will use the direct deposit information you provided from the taxes you\u2019ve filed either for 2019 or for 2018.<\/p>\n If you have no direct deposit information on file or if the account provided is now closed, the IRS will mail you a check, instead.<\/p>\n Treasury Secretary Steven Mnuchin said at a White House briefing on April 2, that those Americans who have signed up for direct deposit will receive their payment within two weeks.<\/p>\n \u201cSocial Security, you\u2019ll get it very quickly after that,\u201d Mnuchin said. \u201cIf we don\u2019t have your information, you\u2019ll have a simple web portal, you\u2019ll upload it. If we don\u2019t have that, we\u2019ll send you checks in the mail.\u201d<\/p>\n The payments will be deposited directly into your bank account if you received your last tax refund or expect to receive this year\u2019s refund that way.<\/p>\n Otherwise, checks will be mailed, which could take longer to get to Americans. Adding to the complications, about 6% of U.S. adults \u2014 or about 12 million Americans \u2014 do not have a checking, savings, or other bank account, according to a\u00a02018 Federal Reserve report<\/a>.<\/p>\n The New York Times, citing IRS\u00a0guidelines<\/a>\u00a0that detail how Americans who aren\u2019t usually required to file tax returns will need to do so to receive payments,\u00a0noted<\/a>\u00a0the guidance \u201cwill almost certainly mean longer waits for those who must file new returns to be eligible to receive a stimulus payment.\u201d<\/p>\n Americans with the lowest income will get mailed checks first, according to reporting by the\u00a0Washington Post<\/a>. Here\u2019s the timetable for the first checks, per IRS documents seen by the Post:<\/p>\n The rest of the checks will be issued by gradually increasing income increments each week. Households earning $198,000 who file jointly will get their reduced checks on Sept. 4. The last group of checks will be sent on Sept. 11 to those who didn\u2019t have tax information on file and had to apply for checks, according to the Washington Post.<\/p>\n Americans who don\u2019t usually file taxes can register to get their stimulus aid checks on\u00a0IRS website<\/a>\u00a0or use\u00a0Turbotax\u2019s free tool<\/a>\u00a0to file a minimum tax return.<\/p>\n TurboTax\u2019s tool helps determine if you\u2019re eligible for the stimulus payment. If eligible, you need to answer a few questions and choose whether to get the payment though direct deposit or check.<\/p>\n \u201cThere are as many as 10 million Americans who are not required to file a tax return,\u201d TurboTax said in\u00a0a statement<\/a>. \u201cBecause the IRS will use the federal tax return to determine and send individual stimulus payments, these individuals are at risk of not receiving their stimulus payment.\u201d<\/p>\n Social Security recipients and those required to file tax returns don\u2019t need to provide additional information, but still must meet the eligibility criteria to get a payment.<\/p>\n No. The stimulus payment is actually a refundable credit against your 2020 tax liability, according to\u00a0Kyle Pomerleau of the American Enterprise<\/a>, and is paid out as an advanced refund. That means you don\u2019t have to wait to file your 2020 taxes to get the money.<\/p>\n It also doesn\u2019t reduce any refund you would otherwise receive, Watson said.<\/p>\n In fact, if you don\u2019t qualify for the stimulus check now based on your 2018 or 2019 tax returns, you may be able to qualify to take the tax credit next year when you file your 2020 taxes if your income meets the thresholds.<\/p>\n Denitsa is a writer for Yahoo Finance and\u00a0<\/em>Cashay<\/em><\/a>, a new personal finance website. Follow her on Twitter\u00a0<\/em>@denitsa_tsekova<\/em><\/a>.<\/em><\/p>\n \nWho doesn’t get a check?<\/strong><\/h2>\n
How will the government send you the stimulus check?<\/strong><\/h2>\n
When will the stimulus check arrive? It depends.<\/strong><\/h2>\n
\n
How can those who don\u2019t file taxes get a payment?<\/strong><\/h2>\n
Do you have to pay back the stimulus check?<\/strong><\/h2>\n